For an issue like this it is best to first try an uninstall and reinstall such as Helge did. I was able to get Helge a different installer that worked for him. If anyone else is seeing the issue please feel free to contact me directly at jeremye@borisfx.com for assistance.

Yes, I was able to successfully load Premiere after using the alternativ installer.
Right now it seems to be working fine except for a couple of issues I have forwarded to Jerry's attention which has to do with an error appearing when I press APPLY to go back to Premiere timeline.
Even with this error the effect is still correctly applied to the file in the timeline. It's just an annoying message coming up every time I return to Premiere timeline.
The error is:
"Could not create file. Check that the volume is not locked and that you have write permissions."